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KMID : 1023720150690010075
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Journal of Welfare for the Aged
2015 Volume.69 No. 1 p.75 ~ p.98
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A Study on the effect of public pension generosity upon effective retirement age：focused on interaction of social service expenditure for old adults
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김대건:Kim Dae-Gun
저자없음:No authors listed
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Abstract
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This is a comparative social policy study on an effect of public pension generosity upon effective retirement age. For this purpose, 18 OECD countries national resources for 32 years and Scruggs’ pension generosity index were used for an analysis. Due to the characteristics of panel resources, Beck and Katz’s PCSE(Panel Corrected Standard Errors) was employed and analyzed. Additional analysis on the interaction variables relation between cash transferable pension and the old-age service expenditures was made. As a result, it showed that pension generosity and old-age service expenditures tended to increase to the effective retirement age and such tendency was reversed to be higher in the variables rate. according to the this result. This result can forecast that the combination that predicted variables higher will make effective retirement age lower but combined with low pension generosity and high old-age service expenditures will make effective retirement age more higher. This study suggests to reinterpret the influence of pension generosity upon effective retirement age, which was supported by previous studies, in a new perspective. At the same time, it also points out the policy limit of standardized reduction of welfare expenditure and pension payment without securing the stability of system.
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KEYWORD
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PCSE, Pension generosity, service expenditure, time series regression analysis, PCSE, interaction
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